Stifel Financial Corp Has $1.27 Million Stock Holdings in Boyd Gaming Co. (NYSE:BYD)

Stifel Financial Corp lifted its holdings in shares of Boyd Gaming Co. (NYSE:BYD) by 2.1% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,699 shares of the company’s stock after buying an additional 414 shares during the period. Stifel Financial Corp’s holdings in Boyd Gaming were worth $1,274,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of BYD. Fifth Third Bancorp increased its position in Boyd Gaming by 15.6% during the 2nd quarter. Fifth Third Bancorp now owns 4,199 shares of the company’s stock worth $231,000 after purchasing an additional 566 shares in the last quarter. Burney Co. lifted its stake in shares of Boyd Gaming by 7.4% in the 2nd quarter. Burney Co. now owns 72,704 shares of the company’s stock valued at $4,006,000 after acquiring an additional 5,028 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Boyd Gaming by 13.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,911 shares of the company’s stock valued at $877,000 after acquiring an additional 1,933 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Boyd Gaming by 13.4% during the 2nd quarter. Signaturefd LLC now owns 2,728 shares of the company’s stock valued at $150,000 after acquiring an additional 323 shares in the last quarter. Finally, International Assets Investment Management LLC grew its position in Boyd Gaming by 25.0% during the 2nd quarter. International Assets Investment Management LLC now owns 3,754 shares of the company’s stock worth $207,000 after acquiring an additional 750 shares during the last quarter. 76.81% of the stock is currently owned by institutional investors.

Boyd Gaming Stock Performance

BYD stock opened at $71.20 on Monday. Boyd Gaming Co. has a 1-year low of $49.34 and a 1-year high of $76.73. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 1.85. The stock has a 50-day moving average price of $71.18 and a 200-day moving average price of $62.89. The firm has a market cap of $6.29 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 9.93 and a beta of 1.54.

Boyd Gaming announced that its board has approved a stock buyback plan on Thursday, December 5th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to buy up to 7.6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Boyd Gaming Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend is Monday, December 16th. Boyd Gaming’s dividend payout ratio (DPR) is presently 12.98%.

Insiders Place Their Bets

In other news, Director William R. Boyd sold 25,155 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $69.35, for a total value of $1,744,499.25. Following the completion of the sale, the director now directly owns 1,487,970 shares in the company, valued at $103,190,719.50. This trade represents a 1.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Christine J. Spadafor sold 660 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $75.68, for a total value of $49,948.80. Following the transaction, the director now directly owns 5,977 shares in the company, valued at approximately $452,339.36. This trade represents a 9.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 147,364 shares of company stock worth $10,590,893. Corporate insiders own 27.94% of the company’s stock.

Analyst Ratings Changes

BYD has been the topic of a number of recent research reports. Morgan Stanley lifted their price target on Boyd Gaming from $74.00 to $78.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Stifel Nicolaus lifted their target price on shares of Boyd Gaming from $67.00 to $74.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Argus upgraded shares of Boyd Gaming from a “hold” rating to a “buy” rating and set a $90.00 price target for the company in a research report on Tuesday, December 17th. Barclays raised their price target on shares of Boyd Gaming from $70.00 to $71.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Boyd Gaming from $69.00 to $74.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Boyd Gaming currently has an average rating of “Moderate Buy” and a consensus price target of $91.64.

About Boyd Gaming

Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania. The company operates through Las Vegas Locals, Downtown Las Vegas, Midwest & South, and Online segments.